Reserve Bank of Australia and compare with the HKMA

The nurse Bank, the central bank of Australia, has a significant belief on our individual lives as well as on the national and international banking system. In the process of carrying out financial policy, the military stand-in Bank influences employment, interest rates, the availability of credit, and up to now our bar of living. A remark by the chairman of the display panel of Governors of the timidity Bank can cause public chemical reaction and act the stock market place worldwide. (W S Weerasooria, 1996, p61) In new-fangled years, the provide Bank has taken on an increasingly bigger social occasion in the financial system. Role of harbour Bank of Australia l have got Bank As Banker One of the original roles of the Reserve Bank was to provide basic banking serve wellance to member banks. The Reserve Bank of Australia leaves deposit business and impart transactions with the corporations and individuals of the superior general public to financial institutions in the market, and concentrates rather on beingness a bank of banks. (G. Jay Francis, Susan M. Siegel, 2001, p41) Banks maintain transpose Settlement Accounts with the Reserve Bank. These accounts are used to placate balances amid banks arising from clearances of cheques. They are used to settle transactions between the banks and reserve Bank, arising from purchases and sales of government securities, contrasted exchange and Australian notes and coin.

The RBA has a banker-customer relationship with each of the night club companies it has authorized as dealers in the short-term money market and provides each with a distribution channel of credit to assist its! liquidity. The Reserve Bank Act directs the Bank, as yet as the Commonwealth requires it to do so, to act as banker and financial promoter of the Commonwealth. (W S Weerasooria, 1996, p67) The Reserve Bank provides a general mark of banking services to the Commonwealth, Governments of States. The... If you want to get a total essay, high society it on our website: OrderCustomPaper.com

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